Sharp Co. has generated these data for the 2 most recent years where 2021 sales price was 10% lower than 2020: 2021 2020 Sales P1,944,000 Cost of Sales 1,152,000 Gross Profit P 792,000 P1,900,800 1,113,600 P787,200 Change in gross profit due to change in cost price must be A. P95,232 F C. P151,896 F E. P151,896 U B. P113,495 U D. P113,495 F

Sharp Co. has generated these data for the 2 most recent years where 2021 sales price was 10% lower than 2020: 2021 2020 Sales P1,944,000 Cost of Sales 1,152,000 Gross Profit P 792,000 P1,900,800 1,113,600 P787,200 Change in gross profit due to change in cost price must be A. P95,232 F C. P151,896 F E. P151,896 U B. P113,495 U D. P113,495 F

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Sharp Co. has generated these data for the 2 most recent
years where 2021 sales price was 10% lower than 2020:
2021
2020
Sales
P1,944,000
Cost of Sales
1,152,000
Gross Profit P 792,000
P1,900,800
1,113,600
P787,200
Change in gross profit due to change in cost price must be
A. P95,232 F
C. P151,896 F
E. P151,896 U
B. P113,495 U
D. P113,495 F

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